State of Alaska Department of Revenue Sells 7,950 Shares of Arch Capital Group Ltd. (NASDAQ:ACGL)

State of Alaska Department of Revenue lessened its holdings in shares of Arch Capital Group Ltd. (NASDAQ:ACGL) by 11.1% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,446 shares of the insurance provider’s stock after selling 7,950 shares during the quarter. State of Alaska Department of Revenue’s holdings in Arch Capital Group were worth $5,864,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the business. Householder Group Estate & Retirement Specialist LLC purchased a new stake in shares of Arch Capital Group during the 4th quarter valued at approximately $27,000. Larson Financial Group LLC bought a new stake in Arch Capital Group during the 4th quarter valued at $30,000. Richardson Financial Services Inc. purchased a new stake in shares of Arch Capital Group during the fourth quarter worth $33,000. Indiana Trust & Investment Management CO bought a new position in shares of Arch Capital Group in the first quarter worth $58,000. Finally, CVA Family Office LLC purchased a new position in shares of Arch Capital Group in the fourth quarter valued at $47,000. Hedge funds and other institutional investors own 89.07% of the company’s stock.

Insider Buying and Selling

In other Arch Capital Group news, CEO David Gansberg sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $96.64, for a total value of $966,400.00. Following the completion of the sale, the chief executive officer now owns 228,035 shares of the company’s stock, valued at $22,037,302.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 4.00% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

ACGL has been the topic of a number of recent research reports. Morgan Stanley increased their price objective on Arch Capital Group from $104.00 to $109.00 and gave the stock an “overweight” rating in a report on Monday, April 15th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Arch Capital Group from $110.00 to $120.00 and gave the stock a “buy” rating in a report on Monday. Roth Mkm restated a “buy” rating and issued a $110.00 price objective on shares of Arch Capital Group in a research report on Tuesday, April 30th. Evercore ISI upped their target price on shares of Arch Capital Group from $98.00 to $100.00 and gave the stock an “in-line” rating in a report on Tuesday, April 30th. Finally, Wells Fargo & Company increased their target price on shares of Arch Capital Group from $109.00 to $110.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 1st. Four analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $102.00.

Arch Capital Group Stock Down 2.3 %

Shares of NASDAQ:ACGL opened at $97.65 on Thursday. The firm has a market capitalization of $36.67 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 1.71 and a beta of 0.58. The company has a debt-to-equity ratio of 0.17, a quick ratio of 0.59 and a current ratio of 0.59. Arch Capital Group Ltd. has a 52-week low of $72.33 and a 52-week high of $103.79. The firm has a fifty day moving average of $99.42 and a 200 day moving average of $89.91.

Arch Capital Group (NASDAQ:ACGL) last issued its quarterly earnings results on Monday, April 29th. The insurance provider reported $2.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.06 by $0.39. The firm had revenue of $4.09 billion during the quarter, compared to analyst estimates of $3.77 billion. Arch Capital Group had a return on equity of 21.85% and a net margin of 33.65%. The company’s revenue was up 19.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.73 earnings per share. As a group, research analysts anticipate that Arch Capital Group Ltd. will post 8.55 EPS for the current fiscal year.

Arch Capital Group Company Profile

Arch Capital Group Ltd., together with its subsidiaries, provides insurance, reinsurance, and mortgage insurance products worldwide. The company's Insurance segment offers primary and excess casualty coverages; loss sensitive primary casualty insurance programs; directors' and officers' liability, errors and omissions liability, employment practices and fiduciary liability, crime, professional indemnity, and other financial related coverages; medical professional and general liability insurance coverages; and workers' compensation and umbrella liability, as well as commercial automobile and inland marine products.